Africa Data Response Nigeria Consumer Prices (Mar.) Nigeria recorded another acceleration in headline inflation to 33.2% y/y in March as the previous falls in the naira have continued to push up prices. And while the naira has staged a recovery... 15th April 2024 · 2 mins read
Africa Economics Weekly Zuma to stand, SA activity, Nigeria fuel prices A court decision this week in South Africa has laid the ground for former president Zuma to stand in next month’s elections and opinion polls suggest that his MK Party will become the third largest in... 12th April 2024 · 7 mins read
Africa Economics Update Nigeria stops ways and means use, but FX debt to rise Nigeria’s authorities have ceased central bank deficit monetisation via the ways and means facility. But the government will struggle to finance its ambitious spending plans – particularly given the... 11th April 2024 · 4 mins read
Africa Economics Weekly SA weak demand, Nigeria electricity, Kenya rates South Africa’s disappointing PMI for March supports our view that the economic recovery this year will be subdued. Elsewhere, Nigeria’s reduction in household electricity subsidies will help its... 5th April 2024 · 5 mins read
Africa Economics Weekly Zambia clears debt hurdle, CBN stepping up Zambia secured an debt restructuring deal with private bondholders this week. It looks like it has the seal of approval from official creditors, paving the way for the country to finally exit default... 28th March 2024 · 6 mins read
Africa Chart Pack Africa Chart Pack (Mar. 2024) Sub-Saharan Africa will record a pick-up in growth over the coming years, helped by an improving external environment. But tight fiscal and monetary policy will constrain the recovery and our GDP... 28th March 2024 · 0 mins read
Africa Economic Outlook Recovery stuck in low gear Sub-Saharan Africa will record a pick-up in growth over the coming years, helped by an improving external environment reducing the threat of further large currency falls as well as sovereign defaults... 27th March 2024 · 20 mins read
Africa Data Response Nigeria Interest Rate Announcement (Mar.) The Central Bank of Nigeria continued its hiking cycle today, raising rates by 200bp to 24.75%, providing further evidence that officials are fighting aggressively to tackle the inflation problem and... 26th March 2024 · 2 mins read
Africa Economics Weekly Rates preview: Nigeria to hike, South Africa to hold The South African Reserve Bank looks set to leave interest rates on hold at 8.25% next week and it now seems an easing cycle won’t begin until after May’s election, the outcome of which could even... 22nd March 2024 · 6 mins read
Africa Economics Focus Will Africa unlock its potential? Sub-Saharan Africa’s enormous demographic tailwind means the region will see the fastest GDP growth rates (4-5%) of any region between now and 2050. By the middle of the century, the region’s overall... 21st March 2024 · 22 mins read
Africa Economics Weekly Nigeria Eurobond, SA banks and SDR increase The Nigerian naira’s latest devaluation has taken it closer to fair value and, with investor sentiment towards Nigeria improving, the government is lining up a fresh Eurobond sale. That may help to... 15th March 2024 · 7 mins read
Africa Data Response Nigeria Consumer Prices (Feb.) Nigeria’s headline inflation accelerated to a higher-than-expected 31.7% y/y in February and the naira’s latest sharp falls mean it will continue to march towards 35% y/y over the coming months. For... 15th March 2024 · 2 mins read
Africa Economics Update The naira’s march to fair value The devaluation of the Nigerian naira earlier this year appears to have brought it much closer to fair value, which will help to put the balance of payments on a more stable footing. The key now is... 13th March 2024 · 4 mins read
Africa Economics Weekly South Africa metals and current account, Ghana debt Reports suggest that metal producers in South Africa are contemplating cost-cutting measures on the back of the slump in global metals prices, presenting another headwind to the modest pick-up in... 8th March 2024 · 6 mins read
Africa Economics Weekly Nigeria rate hike, Kenya inflation, Zambia debt deal The Nigerian central bank’s 400bp interest rate hike should help provide respite to the naira and help to curb inflation. But Nigeria will need to shift away from interventionist fiscal and FX short... 1st March 2024 · 7 mins read
Africa Chart Pack Africa Chart Pack (Feb. 2024) Economic growth in Sub-Saharan Africa is likely to pick up in 2024 as the external backdrop turns more favourable and, in some places, the drag from high inflation fades. Even so, tight fiscal and... 28th February 2024 · 0 mins read
